Asia-Pacific is expected to register the highest CAGR of 11.5% from 2022 to 2031. However, the market across North America would dominate the market in terms of revenue, accounting for nearly two-fifths of the market.
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As per the report published by Allied Market Research, the global aromatherapy products market is projected to reach $5.3 billion by 2031, growing at a CAGR of 9.0% from 2022 to 2031. The report highlights the market potential, market characteristics, competitive landscape, and growth by segmentation.
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Roshan Deshmukh, Manager, Consumer Goods at Allied Market Research, stated, “Increase in awareness among consumers about health benefits of essential oil and adoption in spa & relaxation therapy have boosted the growth of the global aromatherapy products. However, the limited availability of raw materials and long extraction processes hinder market growth. On the contrary, an increase in demand from wellness tourism would open new opportunities in the future.”
Covid-19 pandemic impact on the market:
- The demand for aromatherapy products increased during the pandemic due to increased importance as several patients were suffering from mental health problems.
- Increased cases of depression and anxiety fueled the demand for sandalwood and jasmine essential oils to overcome stress during the pandemic.
The global aromatherapy products market is analyzed across several regions such as Europe, North America, Asia-Pacific, and LAMEA. Asia-Pacific is expected to register the highest CAGR of 11.5% from 2022 to 2031. However, the market across North America would dominate the market in terms of revenue, accounting for nearly two-fifths of the market.
The global aromatherapy products market is segmented on the basis of product, application, form, and distribution channel.
Based on the product, the essential oils segment is expected to maintain its dominance in terms of share during the forecast period. However, the blend oils segment would register the highest CAGR of 9.6% from 2022 to 2031.
On the basis of application, the skin and hair care segment is expected to register the highest CAGR of 10.7% during the forecast period. However, the relaxation and sleep segment would hold the lion’s share through 2031.
The global aromatherapy products market report includes an in-depth analysis of the major market players such as dÅÂTERRA , Edens Garden, Young Living Essential Oils, LC, Rocky Mountain Oils, Plant Therapy Essential Oils, FLORIHANA, Biolandes, Falcon Essential Oils, Stadler Form, Hubmar International, SpaRoom, Mountain Rose Herbs, Air Aroma, Nu Skin, and H.Reynaude & Fils.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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